The Fed will spark a 'seismic moment' if it cuts rates, and should wait for overwhelming evidence the economy is slowing, Larry Summers says

The Fed will spark a 'seismic moment' if it cuts rates, and should wait for overwhelming evidence the economy is slowing, Larry Summers says

REUTERS/Jonathan Ernst

Even after a hot November jobs report, markets this the Federal Reserve is heading for interest rate cuts as early as March 2024, but after the data release Friday, former Treasury Secretary Larry Summers cautioned that policymakers should tread carefully before making a final decision.

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